The law firm of Oakes & Fosher is currently investigating former securities broker Mark Ciriaco for possible negligence and/or misconduct. According to his publicly available FINRA BrokerCheck report, Mark Ciriaco was sanctioned by FINRA in November 2015.

Mark Ciriaco was a Nebrasksa based securities broker. He worked in the securities industry for six years. During his career, he was registered with two different securities firms.

His Registrations

  • Securian Financial Services (2008-2014)
  • M. Holdings Securities (2015)

The Allegations

In November 2015, Mark Ciriaco was sanctioned by FINRA. The findings in this matter state that Ciriaco converted approximately $31,000 from a non-profit organization. He allegedly used the converted funds for his own personal use. Due to these alleged actions, he was barred by FINRA from acting as a securities broker in any fashion.

What Does This Mean?

Securities brokers, like Mark Ciriaco, hold a lot of power when handling the funds of individuals or groups. This is because they have almost complete access to their customers’ money. It is necessary for there to be a deterrent in place to prevent securities brokers from stealing their customers’ money. While the individual who stole the money can be charged criminally, the customer might not be made financially whole. Not unless they go after the securities firms that should have been supervising the individual that converted their funds. Investors who had their funds stolen by their securities broker may be entitled to damages.

Oakes & Fosher Can Help

Most people are unaware of the legal recourse available to them after losing money due to securities broker negligence or fraud. Oakes & Fosher dedicates its entire legal practice to helping investors who have lost money in this fashion. If you, or someone you know, have lost money investing with Mark Ciriaco, please contact Oakes & Fosher for a free and private consultation.